Affordable Housing, Community Development, State News

CT Home Sales and Prices Slump in July

The Warren Group
 

The Warren Group recently released its Connecticut home sale and price data for the month of July, .  revealing that home sales and median sales prices both fell when comparing July 2016 to the same period last year. Single-family home sales fell 15.6% to 3,203 from last year’s total of 3,795, marking the first year over year decrease in sales in 17 consecutive months. The median sales price for a single-family home dropped 4.8% to $260,000 from $273,000.

Year-to-date (YTD) home sale and price numbers tell a slightly different story. Single-family home sales increased 9.9% to 17,622 from last year’s total of 16,035, while the median sales price slid by about 2% to $245,100 from $250,000.

Focusing on July of 2015 and 2016, statewide condominium sales also fell by double digits. Condo sales decreased 14.1% to 803 sales from last year’s total of 935. However, unlike single family homes, the median sales price for condos experienced a 1.5% bump to $172,500 from $169,900.

YTD, Connecticut condo sales jumped over 5% to 4,508 sales from last year’s total of 4,289. The median sales price for condos took a 1% dip to $162,000 from $163,604.

Read more at The Warren Group.

 
 

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